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Rothschild the Loser in Bumi Showdown

By

Andrew Peaple

Feb. 21, 2013 4:45 p.m. ET

Close, but not close enough.

Financier Nat Rothschild failed to unseat the board of Bumi PLC, the Indonesian coal miner he brought to the London market via a reverse takeover of Vallar PLC in late 2010. Two of Bumi's 14 board members were voted off at an extraordinary general meeting on Thursday, but only one of Mr. Rothschild's proposed replacements won support. That leaves the board free to sever Bumi's ties with the Bakrie family,...